Hi all,
I finally received the mortgage offer in writing today-yay!
When I first applied for the mortgage, it was based on the price I was paying for the house, however we have since got the house reduced by £5000 which my mortgage broker lady knew and told Halifax.
We have since received the mortgage offer based on the original price we were paying. Is this normal??
Obviously I'll get in touch with my mortgage lady tomorrow & let her know, but I was just wondering if anyone had experienced this before? Is there any (even slight) possibility that we could still get the mortgage for this amount, and in theory use the money we would be saving by not paying such a big deposit for doing work on the house??
In case the figures help:
Original purchase price : £110,000
Mortgage: 85% (£93500)
New price: £105,000
Mortgage should be: £89,250
Mortgage offer: £93,500
Thanks for any advice!
I finally received the mortgage offer in writing today-yay!
When I first applied for the mortgage, it was based on the price I was paying for the house, however we have since got the house reduced by £5000 which my mortgage broker lady knew and told Halifax.
We have since received the mortgage offer based on the original price we were paying. Is this normal??
Obviously I'll get in touch with my mortgage lady tomorrow & let her know, but I was just wondering if anyone had experienced this before? Is there any (even slight) possibility that we could still get the mortgage for this amount, and in theory use the money we would be saving by not paying such a big deposit for doing work on the house??
In case the figures help:
Original purchase price : £110,000
Mortgage: 85% (£93500)
New price: £105,000
Mortgage should be: £89,250
Mortgage offer: £93,500
Thanks for any advice!